Latest news and stories about municipal purchase in Portugal for expats and residents.
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The municipal council of Faro wants to buy the centuries-old Teatro Lethes (Lethes Theatre) in the first half of this year, in a deal worth around €4 million, with the The post Faro eyes €4 million purchase of historic Lethes Theatre appeared first on Portugal Resident.
The municipality will buy the last neighbourhood cinema on the Cascais line for €600,000; only the signing of the deed remains. The owner urges the venue to reopen so customers do not lose the habit of going.
The deal followed the taking out of a loan and the filing of a precautionary injunction after the landowners are said not to have respected the municipality's right of first refusal.
Cascais City Council has exercised its right of first refusal to buy 32 plots near Quinta da Marinha for €30 million, blocking a sale the owner had negotiated with two private firms. The council approved a loan to finance the acquisition, raising issues about use of public funds to secure strategic, high-value land in one of the municipality’s most expensive areas and the implications for local planning and market dynamics.
